China Ocean Resources on verge of being dropped from Korean stock market

SEOUL, April 20 (Yonhap) -- China Ocean Resources Co., a Hong Kong-based deep-sea fisheries company, is on the verge of being delisted from the South Korean stock market due to its false financial disclosures.

If China Ocean Resources is dropped, it will become the latest Chinese firm that is booted from the local bourse after grappling with lower valuations and a lack of investor confidence.

A total of 22 Chinese companies were allowed to trade their shares on the Korean stock market since 2007, but seven Chinese firms have been delisted so far.